Institute of Graduate Studies and Research

Economics (MSc)

Duration 2 Years
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About the Program

The master’s program in Economics aims to prepare students with competence in microeconomics, macroeconomics and statistical methods knowledge while aiming to ensure that students have a background to help them gain these competencies even if they have not graduated from economics as their bachelor’s degree. If our students have studied economics in their undergraduate education, they will be directly admitted to the graduate program on the basis of performance evaluation. If they have graduated from another department, they will be prepared for the graduate program by taking basic undergraduate courses. The program aims to practice the theoretical background acquired through compulsory and elective courses through extensive research opportunities and communication between academic staff and students. Our master's program specializes in environment and energy economics, political economy and development economics. The medium of instruction for the program is English.

Education Opportunities

The master’s program on economics consists of two compulsory (advanced microeconomics and advanced macroeconomics) and five electives (econometrics, business department elective courses, research methods, accounting and finance department elective courses) and seminar course (compulsory). Our students are able to take some of the courses (practical courses) in the first and only fully-equipped finance laboratory in Northern Cyprus. Participation is compulsory in all courses and a thesis proposal for the thesis graduate program must be submitted at the end of the seminar course. However, it is expected that a high-quality master's thesis is prepared under the guidance of the thesis supervisor and defended in front of the thesis jury. In the non-thesis master's degree program, participation is compulsory in all courses and students are required to take two compulsory and six elective courses followed by the completion of a graduation project.

Career Areas

The program curriculum offers our students a wide range of career opportunities. An important part of this business is to find jobs in a wide range of sectors including finance, consultancy in public or private institutions. Our graduates, who wish to pursue an academic career, may have the opportunity to study in prestigious institutions in TRNC, Turkey or abroad. You can visit the Alumni Relations and Career Research Center in Cyprus International University to be aware of our graduate-university network that is constantly updated with about internships, jobs, and career opportunities both during and after your master’s program.

Contact

Institute of Graduate Studies and Research
Education and Graduate Sciences Center, GE106
Tel: +90 392 671 1111 Extension: 2214-2228
Institute E-mail: ciu-institute@ciu.edu.tr

Compulsory modules

First Semester
ADVANCED MICROECONOMIC THEORY

Course code

ECON501

Credit

3

Theoretical

3

Practical

0

Ects

ADVANCED MACROECONOMIC THEORY

Course code

ECON502

Credit

3

Theoretical

3

Practical

0

Ects

ELECTIVE

Course code

ECON5X1

Credit

3

Theoretical

3

Practical

0

Ects

ELECTIVE

Course code

ECON5X2

Credit

3

Theoretical

3

Practical

0

Ects

Second Semester
SEMINAR

Course code

ECON590

Credit

0

Theoretical

0

Practical

0

Ects

5
.
ELECTIVE

Course code

ECON5X3

Credit

3

Theoretical

3

Practical

0

Ects

ELECTIVE

Course code

ECON5X4

Credit

3

Theoretical

3

Practical

0

Ects

ELECTIVE

Course code

ECON5X5

Credit

3

Theoretical

3

Practical

0

Ects

Third Semester
THESIS

Course code

ECON500

Credit

0

Theoretical

0

Practical

0

Ects

Optional modules

SUSTAINABLE DEVELOPMENT

Course code

ECON520

Credit

3

Theoretical

3

Practical

0

Ects

This course introduces the concept of sustainable development at different geographical scales (local, national and international). It aims to explore the origin, goals, and challenges of sustainable development. The course will begin by analyzing the history of development and globalization projects using a cross-cultural perspective that considers social and environmental impacts outlining some key challenges, including reduction of poverty and sustaining the earth’s ecological integrity. As such, it deals with production, distribution, and consumption of natural resources as the principal determinants of sustainable development. The degree to which global market capitalism, subsistence, and other production systems have been, or currently are, sustainable over the long term will be explored. Moreover, environmental assessment policies and tools, indicators of sustainable development, and related social institutions are considered.
RESEARCH METHODS

Course code

BUSN515

Credit

3

Theoretical

3

Practical

0

Ects

BUSINESS ECONOMICS

Course code

BUSN521

Credit

3

Theoretical

3

Practical

0

Ects

BUSINESS ECONOMICS

Course code

ECON505

Credit

3

Theoretical

3

Practical

0

Ects

PROBABILITY AND STATISTICS

Course code

ECON515

Credit

3

Theoretical

3

Practical

0

Ects

INTERNATIONAL ECONOMICS

Course code

BUSN553

Credit

3

Theoretical

3

Practical

0

Ects

ECONOMICS OF INTERNATIONAL TRADE

Course code

ECON510

Credit

3

Theoretical

3

Practical

0

Ects

ORGANIZATION AND MANAGEMENT

Course code

BUSN513

Credit

3

Theoretical

3

Practical

0

Ects

8
This course is structured to inform the MBA students about contemporary applications of management. With this basic approach the topics include knowledge society and organizations, information technologies, globalization and organizations, TQM, core competence, outsourcing, hybrid, organizations, downsizing, sub – contracting, lean organizations and cluster organizations. This course examines organizational theory, practice and learning in the context of rapidly changing competitive and economic environments. Strategies and tactics for growth and performance improvement are explored. This course covers issues of current relevance, including social networks, knowledge management, innovation, organizational learning and design thinking.
MONETARY AND FINANCIAL THEORY

Course code

ECON509

Credit

3

Theoretical

3

Practical

0

Ects

MARKETING STRATEGIES

Course code

BUSN532

Credit

3

Theoretical

3

Practical

0

Ects

8
This course is concerned with helping managers identify, select and implement strategies that would make their organizations more competitive in the marketplace. These strategies encompass decisions such as which "products" their firm offers and chooses not to offer, by the markets it seeks to serve and not serve, by the competitors it chooses to compete with and to avoid, and the level of vertical and horizontal integration it considers as optimal for all of its stakeholders. Specific ways to compete in the chosen "markets" will usually be characterized by one or more functional strategies such as product line strategy, positioning strategy, pricing strategy, distribution strategy, segmentation strategy, manufacturing strategy, information technology strategy, and global strategy. The intent of this course is to provide decision makers with concepts, methods and procedures by which they can improve the quality of their strategic (marketing management) decision-making.
ECONOMETRICS

Course code

ECON503

Credit

3

Theoretical

3

Practical

0

Ects

HUMAN RESOURCE MANAGEMENT

Course code

BUSN512

Credit

3

Theoretical

3

Practical

0

Ects

7
Managing human capital in the new economy is a challenge all business professionals face. This course addresses that challenge by retaining its unique orientation to overall practicality and real-world application incorporating technology, teams and virtual learning methods. Practical tips and suggestions provide effective ways of dealing with problems in communication, leadership, discipline, performance appraisal, labor relations, and compensation administration.
ADVANCED MANAGERIAL ECONOMICS

Course code

ECON507

Credit

3

Theoretical

3

Practical

0

Ects

INTERNATIONAL FINANCIAL MARKETS & BANKING

Course code

INBA503

Credit

3

Theoretical

3

Practical

0

Ects

The aim of the class is to provide you with an understanding of the financial system and the roles and functions of financial markets and institutions. A particular emphasis is placed on understanding the roles of intermediaries such as banks and investment firms. Will develops an understanding of the various characteristics and roles of fixed income, equity, and foreign exchange markets. While some attention will be given to the global nature of financial markets will be widely discussed. This class aims to equip you with an awareness and understanding of financial markets and institutions in the context of the global economy. Particular emphasis will be placed on the role and contribution of the banking sector. This class covers the reasons for, and nature of, of financial markets and institutions with a particular focus on banking, the global nature of these markets and their regulation.
INVESTMENT APPRAISAL

Course code

ACFN519

Credit

3

Theoretical

3

Practical

0

Ects

0
This course is devoted to the techniques of cost-benefit analysis of investment projects. The course covers both the analytical techniques as well as their practical applications in decision-making. The course topics will cover financial modeling of investment projects, alternative investment criteria, the role of discounting the time value of money, pre-feasibility and feasibility studies in project appraisal, sensitivity analysis and maintaining consistency between real and nominal prices, inflation rates, exchange rates and interest rates. It will also cover how to determine the optimal scale and timing of investments and how to construct income statements and balance sheets from cash flow projections.
ADVANCED CORPORATE FINANCE

Course code

ACFN584

Credit

3

Theoretical

3

Practical

0

Ects

0
The aim of the course is to analyze the primary issues in modern corporate financial theory and practice. The focus will be on the corporate practice (corporate financial policies) that will create value and maximize the wealth of shareholders. We will be concerned with what financial managers do and why, and how the theory of finance explains these behaviors. The course is designed in line with the subject topics covered in the Chartered Financial Analysts (CFA) Exam (Level I). The course studies the essentials of corporate finance with basic theories. It covers time value of money, financial statement analysis, valuing stocks and bonds, capital budgeting, capital structure decisions and cost of capital estimation.
MONETARY POLICY AND ROLE OF CENTRAL BANK

Course code

INBA501

Credit

3

Theoretical

3

Practical

0

Ects

Financial Markets, Banking, and Monetary Policy provides a comprehensive introduction to the financial system, including the markets, institutions, and mechanisms of finance, as well as the role of the central bank and monetary policy. The economic principles underlying finance are woven through the chapters, and the course includes an insightful introduction into the causes of and responses to the recent financial crisis. After the completion of this course students will have detailed information regarding the following topics; Overview of the Financial System, The Special Role of Commercial Banks, The Pricing of Financial Assets, Factors Affecting Yields, Principles of Portfolio Selection and Efficient Markets, The Money Market, The Bond Market, Securitization, The Mortgage Market, The Equity Market, Central Banking and the Federal Reserve, Monetary Policy: The Basics, Monetary Policy: Challenges Faced by Policymakers.
PRODUCTION PLANNING AND SCHEDULING

Course code

EMNT501

Credit

3

Theoretical

3

Practical

0

Ects

STRATEGIC MANAGEMENT

Course code

BUSN509

Credit

3

Theoretical

3

Practical

0

Ects

7
Designed to help the participants gain a better understanding of some of the most critical issues in the field of strategic management today. The issues addressed include: understanding some of the principal driving forces that will shape the future of international competition; the central role of corporate purpose to strategy in individual firms; the role of capital markets and corporate financial policies in shaping a firm's competitiveness in global markets; the identification of appropriate boundaries for a firm, including strategic alliances and the degree of diversification; the future of the implicit “contract” between employees and the corporation, and its implications for the meaning people find in their work and for the creation of knowledge-based competitive advantages; and the future evolution of corporate governance (particularly the role of boards of directors and institutional shareholders).
MICROECONOMICS

Course code

ECON101

Credit

0

Theoretical

0

Practical

0

Ects

4
MULTINATIONAL COMPANIES AND ISSUES IN GLOBALISATION

Course code

BUSN551

Credit

3

Theoretical

3

Practical

0

Ects

0
MULTINATIONAL COMPANIES AND ISSUES IN GLOBALISATION
PORTFOLIO THEORY AND EQUITY ANALYSIS

Course code

ACFN505

Credit

3

Theoretical

3

Practical

0

Ects

6
The aim of the course is to provide students with knowledge of portfolio management concepts such as Markowitz Portfolio Selection Process, Efficient Frontiers, Capital Asset Pricing Model and Arbitrage Pricing Theory. This course will enhance the student’s critical thinking as well as knowledge of specific techniques in the investment process, the global market investment decision, efficient capital market, stock market inefficiencies (anomalies), behavioral finance, variables that forecast stock returns, quantitative optimization methods based on stock return forecasting models and mean-variance analysis, equity style management, transaction costs, quantitative optimization methods based on stock return forecasting models and mean-variance analysis and measuring the performance of active portfolio managers.
MODERN THEORY OF BANKING AND FINANCE

Course code

INBA502

Credit

3

Theoretical

3

Practical

0

Ects

6
This course discusses financial governance and explains how financial markets and institutions complement each other. It also identifies the economic forces work within financial systems and explores how they determine system organization.This course also offers a theoretical survey of financial activity and its application to numerous practical situations. Course also explains both static financial system organization and the dynamics of financial system evolution. After the completion of this course students will have detailed information regarding the following topics; Financial System Functions, Financial System Governance, Financial System Organization and Change, Market versus Nonmarket Governance, Market Governance,Intermediation and Internal Governance, Terms of Deals, Pricing Stocks and Bonds, Pricing Derivatives by Arbitrage, Markets with Impediments to Arbitrage Securities, Bond and Mortgage Markets, Markets for Trading Risks, Exchange Rates and Markets, Marketable Securities Portfolios, Nonmarketable Securities Portfolios, Principles of Intermediation, Management Practice: Domestic Institutions, International Banking and Banking Markets.
BANK MANAGEMENT

Course code

INBA507

Credit

3

Theoretical

3

Practical

0

Ects

0
This course is an introduction to the modern theory of banking and financial intermediation. Despite their long history and importance, banks do not easily fit into the models that economists typically use. It will examine different modelling approaches, with an emphasis on models based on asymmetric information. We will also study theories of financial instability and regulatory response to instability. After the completion of this course students will have detailed information regarding the following topics; Banking and the Financial Services Industry, Government Policies and Regulation, Analyzing Bank Performance, Managing Noninterest Income and Noninterest Expense, The Performance of Nontraditional Banking Companies, Pricing Fixed-Income Securities, Managing Interest Rate Risk: Earnings Sensitivity, Managing Interest Rate Risk: Duration Gap and Economic Value of Equity, Using Derivatives to Manage Interest Rate Risk, Funding the Bank, Managing Liquidity, The Effective Use of Capital, Overview of Credit Policy and Loan Characteristics, Evaluating Commercial Loan Requests and Managing Credit Risk, Evaluating Consumer Loans, Managing the Investment Portfolio and Global Banking Activities.
MACROECONOMICS

Course code

ECON102

Credit

0

Theoretical

0

Practical

0

Ects

DATA ANALYSIS & COMPUTER APPLICATIONS IN MANAGEMENT

Course code

BUSN531

Credit

3

Theoretical

3

Practical

0

Ects

LEADING, TRANSFORMATION AND CHANGE

Course code

BUSN508

Credit

3

Theoretical

3

Practical

0

Ects

MODERN ECONOMIC ISSUES IN ENERGY SYSTEMS

Course code

ENRE527

Credit

3

Theoretical

3

Practical

0

Ects

ORGANIZATION BEHAVIOUR

Course code

BUSN566

Credit

3

Theoretical

3

Practical

0

Ects

7
The aim of the course is to provide students with a basic concepts related to organizational behavior and show them how individual and group behavior is important for the management of an organization.
SERVICES MARKETING

Course code

MRKN506

Credit

3

Theoretical

3

Practical

0

Ects

ENGLISH PHONETICS AND PHONOLOGY

Course code

ELTE501

Credit

3

Theoretical

3

Practical

0

Ects

8
SUPPLY CHAIN MANAGEMENT

Course code

EMNT524

Credit

3

Theoretical

3

Practical

0

Ects

TECHNIQUES FOR STATISTICAL ANALYSIS

Course code

BUSN595

Credit

3

Theoretical

3

Practical

0

Ects

CONSUMER BEHAVIOR

Course code

BUSN535

Credit

3

Theoretical

3

Practical

0

Ects

INVESTMENTS MANAGEMENT

Course code

ACFN514

Credit

3

Theoretical

3

Practical

0

Ects

6
Develops an understanding of the models and concepts of profitable investing, relying on theoretical development and consideration of observed pricing, market, and participant behavior. Examines the markets through which investment funds are channeled and the motivations of the investing and borrowing communities.On successful completion of this course, all students will have developed knowledge and understanding on: how securities are Traded, Mutual funds and other investment companies, Global Financial Instruments, Efficient Diversification, The efficient market hypothesis, Intentional investing, Taxes. Inflation, and investment Strategies, Investors and the investment process, Behavioral Finance and Technical analysis. Examines the markets through which investment funds are channeled and the motivations of the investing and borrowing communities.
COMPUTER VISION

Course code

ISYE537

Credit

3

Theoretical

3

Practical

0

Ects

Image formation. Early processing: low-level vision and feature extraction. Boundary detection. Region growing. Texture. Motion. Two-dimensional and three-dimensional representation. High-level vision: learning and matching.
COST ACCOUNTING FOR BUSINESS MANAGERS

Course code

BUSN565

Credit

3

Theoretical

3

Practical

0

Ects

6
.
RESEARCH METHODS

Course code

EMNT525

Credit

3

Theoretical

3

Practical

0

Ects

ECONOMETRICES

Course code

ECON503

Credit

3

Theoretical

3

Practical

0

Ects

DATA SCIENCE AND MANAGING BIG DATA

Course code

BUSN555

Credit

3

Theoretical

3

Practical

0

Ects

INDUSTRIAL, ORGANIZATIONAL AND WORK BEHAVIOR MANAGEMENT

Course code

BUSN556

Credit

3

Theoretical

3

Practical

0

Ects

8
The application of principles, theory and research of industrial organization, work behavior management and behavioral science knowledge in the context of work setting is explored in this course. The main goal of the course is to outline how businesses and their organizations can be designed so that both employees’ efficiency and quality of life are improved. The covered topics comprise job analysis, training and development, personnel decisions, organizational change, leadership, motivation, teamwork, occupational stress and well-being, personnel assessment, history and evolution of the field, as well as other related subjects on employer-worker relationship. The course also includes developing students understanding of the questions raised and answered by scholars in the field and the methods used to answer those questions in paper writing.
TOTAL QUALITY MANAGEMENT

Course code

EMNT502

Credit

3

Theoretical

3

Practical

0

Ects

FINANCIAL MANAGEMENTS

Course code

ACFN516

Credit

3

Theoretical

3

Practical

0

Ects

6
Solving issues relating to financial management has become a big problem in our contemporary world for financial managers. To make a difference, this course is purposefully designed to facilitate students’ ability to synthesize and incorporate presented tools into flexible model for curtailing the long existing problem of financial managers. On successful completion of this course, all students will have developed knowledge and understanding of: Project Analysis and Evaluation, Some Lessons from Capital Market History, Return, Risk and the Security Market Line, Cost of Capital, Raising Capital, Financial Leverage and Capital Structure Policy, Dividends and Dividend Policy, Short Term Finance and Planning, Cash and Liquidity Management and Credit and Inventory Management.

Students who are interested in pursuing advanced graduate studies leading to a master’s, doctoral degree, or professional doctorate degree for the Fall and Spring semesters every year. Applicants can directly apply online to our graduate programs using the application portal.

TRNC Applicants- Required documents:

  • Bachelor’s Degree Diploma
  • Bachelor’s Degree transcripts for each completed academic term/year.
  • Documents to prove English proficiency for English language departments,
  • Scanned copy of passport or identity card.

Click for detailed admission requirements information.

Students who are interested in pursuing advanced graduate studies leading to a master’s, doctoral degree, or professional doctorate degree for the Fall and Spring semesters every year. Applicants can directly apply online to our graduate programs using the application portal.

International Applicants- Required documents:

  • Bachelor’s Degree Diploma
  • Bachelor’s Degree transcripts for each completed academic term/year.
  • Evidence of English Language competence: TOEFL (65 IBT) or IELTS (5.5). Students without these documents will take the CIU English proficiency exam on campus following arrival.
  • Scanned copy of international passport/birth certificate
  • CV
  • Fully completed and signed CIU Rules and Regulations document (which can be downloaded during the online application)

Click for detailed admission requirements information.

Cyprus International University provides academic scholarships for its students as an incentive for success, with most students benefiting from 50%, 75% or 100% scholarships or discounted tuition fees. Click for more information.

Fee pe​r course     € 350,00
Fee for thesis     € 1.050,00
Fee for seminar     € 120,00 
Scientific Foundation per course     € 150,00
Registration and other fees* € 245,00
Student Union fee € 50,00    
  VAT Exc.

*Applies to 1st. Year students. € 195,00 for others.